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Quest Means Business
Spurs Lead Chelsea 2-1 in Second Half; CNN Poll: A Look at Bitcoin; Clinton, Trump Seen as Likely Nominees; CNN Poll: Republicans Want Cruz to Drop Out; Leicester Secured First English Premier League Title
Aired May 02, 2016 - 16:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[16:00:00]
RICHARD QUEST, HOST: Good, strong start to the week. May has arrived. And the market has shrugged off those April showers. The Dow is up 114 points
on the first trading day of the month.
Elliemae oh here we go. Oh. I thought that was going to be far more robust than that. That was a wimpy gavel on Monday, the 2nd of May.
(BEGIN VIDEO CLIP)
QUEST: Tonight, an online currency conundrum. This man says he is the creator of Bitcoin. We`ll put it to the test. History has arrived in
Havana. The first U.S. cruise ship for decades has docked in the port. And literally a game of two halves. While Spurs may be winning in the premier
league, Leicester can still become English champions this hour. We will have the details. We`ll let you know how it`s progressing.
(END VIDEO CLIP)
QUEST: I`m Richard Quest. We`re starting a new week together, and I mean business.
Good evening. You can call it a footballer`s dream that`s been deferred 132 years and it could be realized in the next 45 minutes -- If last year`s
champions about to mount a second-half comeback.
(BEGIN VIDEO CLIP)
QUEST: Leicester City, the unlikely leaders of the English premier league given 5,000 to 1 odds to win their first-ever title at the start of the
season. Now, it all depends not on Leicester`s performance. But another match taking place at Stamford Bridge where it`s halftime in London.
Tottenham Hotspurs are up 2-0 against Chelsea.
So this is where it goes. If Spurs can`t manage to hold their lead, if Spurs draw or lose, then Leicester becomes crowned champions of the premier
league. And a fairytale season will be inscribed in history.
If, however, Spurs hold on to that 2-0 lead which they have got at halftime, then we all move on further into the week.
(END VIDEO CLIP)
QUEST: Kellie Morgan`s outside Stamford Bridge where Tottenham are playing Chelsea. It`s one of those rum deals, isn`t it? Leicester`s future depends
on somebody else`s performance.
KELLIE MORGAN, CNN CORRESPONDENT: Yes. Absolutely, Richard. You have a situation here where you are the star of the show and you are being forced
to sit on the sidelines and watch effectively what could be the final scene play out in your fairytale. Now that is what is happening here.
(BEGIN VIDEO CLIP)
MORGAN: And if that wasn`t drama enough for you, what`s happening behind me is just at a drama. No one was really expecting that Spurs were going do
get two goals in the first half.
(END VIDEO CLIP)
MORGAN: 35 minutes in, then 9 minutes later, they score two goals. So it is going to plan for Spurs, they came out here tonight determined to beat
Chelsea. It is their title also that is up for grabs here. They haven`t won a title since 1962. This is as every bit as important to Spur as it is to
Leicester City right now.
So they`re out there and they will try to hang on to the lead you can be absolutely sure. But as you said they need to win every one of those last
three games. All that Leicester City has to do is draw or win one of those games and the title is theirs. It`s a fairytale. We`ve got another half to
play.
QUEST: Hang on, hang on.
MORGAN: We`ve got another half to play.
QUEST: You`re getting ahead of yourself. We`ve got another half to play. We have still got to know, of course, how much extra time or injury time. The
second half has just begun. But here`s the point. I mean, whether it`s Spurs or whether it`s Leicester, as you say, there`s a fairytale element to
it because Spurs themselves haven`t had this for the best part of four decades.
MORGAN: No. Absolutely not. And what we have to understand here is that the rivalry that exists between Chelsea and Spurs, there is no love lost
between these two teams. Chelsea would love nothing more than to deny Spurs their shot at the title. So it`s going to be some passionate playing out
there. Spurs have everything to lose. They`re in it to win it. They have to win it if they keep their title dreams alive, Richard.
QUEST: Kellie, stand by, get ready to do duty because obviously, once that first -- that second half has come to an end and we`re into injury time,
we`re going to need you to be interpreting for us how long it is to go, what the mood is and all of those sort of things. Thank you, Kellie Morgan
who is at Stamford Bridge.
And we`ve also got a whole host in a pub. We`re looking at Leicester fans. We`ll have Don Ridell and if everything goes according to plan, we believe
the final whistle will be blown some point during the next hour while we`re still on air and we will bring you the results and the implications
obviously for what that result is going to be.
[16:05:04]
QUEST: And as we continue, a mystery for six years that now may be unraveled. This is the Bitcoin. And the question of who created this
electronic virtual currency has just bedeviled the world. Investigators and reporters have tried time and again to determine the true identity of the
man known as Satoshi Nakamoto.
Now an Australian computer scientist named Craig Wright claims he`s the currency creator. Well he looks sort of fairly straight forward type of
chap.
(BEGIN VIDEO CLIP)
QUEST: He published a blog post that contains what he says is definitive proof. I read the blog post and didn`t understand a word of it. Some
Bitcoin developers remain skeptical.
Now, Bitcoin flourished even as the identity of the inventor remained unknown. Plagued by controversy, volatility, it gets up to roughly just
over $1,100 and change in 1151 back in 2013 as you can see. But by 2014, the Bitcoin exchange Mt. Gox is shut down. Mt. Gox is one of the largest
exchanges and you see the crash in Bitcoin that follows.
Add into it a whole host of allegations about drug laundering money, illegal use of it, all sorts of nefarious activities for which Bitcoins
were being used and you start to see how it continues there. But now Bitcoin is down at around 300, 400.
Mark Andrison defended the volatility saying Bitcoin had the power to reshape the financial system. In 2015, Bitcoin exchanges saw surges in
business particularly from Greece funnily enough where it was seen as being a great store of value.
(END VIDEO CLIP)
Bruce Fenton is with me. Good to see you, sir.
BRUCE FENTON, EXECUTIVE DIRECTOR, BITCOIN FOUNDATION: Good to see you.
QUEST: Please, remain comfortable. Now, you`re the Executive Director of the Bitcoin Foundation which is an advocacy group for the currency. First
and foremost, do you believe that man I showed Craig -- whatever his name is -- is the man?
FENTON: I don`t think there`s enough information to say yet.
QUEST: Hang on. You`ve read the blog?
FENTON: Yes.
QUEST: And he`s given his cryptography address -- signature and he`s given all the ways in which he did it.
FENTON: Yes.
QUEST: So why do you doubt?
FENTON: Well there`s - the signature that he gave is not conclusive proof and there`s a lot of bright cryptographer`s a lot smarter than me who have
looked at that and they don`t believe it. Some believe it, most I would say don`t right now.
The other compelling piece of evidence was a couple other experts have met him and talked to him. One is Gavin Andresen who was - is of the early and
prominent developers in Bitcoin.
(BEGIN VIDEO CLIP)
FENTON: Met him and he is convinced. So that speaks volumes to me but still not enough to convince me personally.
QUEST: Is there a way conclusively to prove it?
(END VIDEO CLIP)
FENTON: Probably not ever a way to conclusively prove it because of the nature of Bitcoin because someone could always be hacked but there are
other transactions he could do that would definitely give me and probably almost everybody in the industry a pretty high degree of confidence.
QUEST: Right. I mean I do not understand it. I`m not going to sit here and feign intelligence on this when I have got no knowledge of how Bitcoin
works other than the fact it does work. But I was reading that -- Satoshi Nakamoto there are ways in which he could send something out with the
signature of Satoshi on it that would lead people to say, yep, you`re the man.
FENTON: Yes. There`s -- the same basically an early block that a Bitcoin that are pretty much known owned by Satoshi.
(BEGIN VIDEO CLIP)
FENTON: If he sent something publicly in the future, or said he is going to do it tomorrow or something like that, that would be helpful.
QUEST: Why would he not? Why would he not do something conclusive?
FENTON: Oh, you`d have to ask him. I mean, it`s -- there could be - you know there could be reasons. There`s rumors that it`s in a trust. There`s
Tax implications like that, it could be a hoax, it could be real.
QUEST: What`s the significance other than prurient interest of this man who may have created something that we really, you know, that - to some extent
has got everybody befuddled and scratching their heads. What`s the significance of knowing who it is? Because you were telling me earlier that
actually it doesn`t matter if he is the real man.
(END VIDEO CLIP)
FENTON: Yes that`s the great news about Bitcoin is - Bitcoin is basically the world`s best ledger. It`s a statement of truth that says who owns what
and at the end of the day that`s all that matters. It doesn`t matter who created it, it doesn`t matter if they`re a good or a bad person or what
their motives were because that statement of truth is a statement of truth and that`s not going to change, and that`s the real powerful thing about
Bitcoin, is this very, very solid ledger, probably the best ledger the world has ever seen.
QUEST: Bruce, do you believe that the Bitcoin reputation has improved? Ever since Mt Gox and then we had Silk Road and just about every form of
terrorism, drug lord -- drug dealing, prostitution, you name the nefarious activity and somebody suggest it`s being funded by a Bitcoin.
FENTON: Sure.
QUEST: Do you believe its reputation is improving at all?
[16:10:02]
FENTON: Yes. I mean, and that`s definitely true. All of those things are funded by Bitcoin. It wouldn`t be much of a currency if it wasn`t used for
those things. Just as the U.S. dollar is used way, way, way more than Bitcoin to fund those things.
(BEGIN VIDEO CLIP)
QUEST: Oh come on. No, no, no, hang on a second. I think I have got to jump in here. The U.S> dollar may be used by that but there are restrictions on
dollar trading which as you move dollars through the system would eventually show how much is being used.
(END VIDEO CLIP)
FENTON: Right -
QUEST: -- Money laundering.
FENTON: But in terms of percentage, there`s way more that`s being used in U.S. Dollar. There was one branch of HSBC that had a comparable amount to
all the Bitcoin traded in a year.
(BEGIN VIDEO CLIP)
FENTON: You know, that they are trading with cartels and things. So any good currency is going to be used for things that some people may consider
to be bad or may be actually bad.
QUEST: Good to see you sir.
FENTON: Great. Thank you.
(END VIDEO CLIP)
QUEST: Thank you very much in deed. Now, turning to the markets, the Dow, look at this.
(BEGIN VIDEO CLIP)
QUEST: We have a good, strong rally on the Dow. Triple digit gains. Opened straight up and stays there throughout the session. It was helped by a fall
in the dollar. Gold which is also above $1,300 an ounce incidentally I`ve written about gold and what a useless investment I think it is in today`s
"Quest Means Business" newsletter, we`ll show you the address for that if a moment. But gold is now at the highest level since January 2015 at 1,300.
The Dow Jones itself up 117, 17,891, a gain of some half a percent.
An 18-month courtship has fallen apart. It was a $34.6 billion deal. It was between Halliburton and Baker Hughes. It was designed to help both
companies survive cheap oil. Now, the deal happens at a time oil prices are starting to fall. And together they would have controlled 90% of the U.S.
oil services market according to the Justice Department.
So the Justice Department sued to stop the deal one month ago on the grounds of anti-trust activity claiming that it would have given Baker
Hughes and Halliburton too much of a dominant position in the market. In addition, it was also facing scrutiny from Europe from the European
Commission. As a result, the deal falls apart even though the companies initially fought back.
Not surprisingly, there is just look at that. That seems a large amount of money. $3.5 billion. That is a huge amount of money as a break-up fee. We
haven`t got the letters wrong. It`s not million. It`s a $3.5 billion break- up fee which will give Baker Hughes a much-needed cash cushion.
It`s the latest deal to fall victim to the regulators. You`ll be well aware of the different ones. So these are the ones, Baker Hughes has gone.
Comcast and Time Warner Cable went. Allergan and Pfizer went, that went on the basis of inversions. And Staples and Office Depot is waiting for a
justice decision after the FTC stopped -- sued to stop the deal.
Different reasons why they`ve all gone but still, nonetheless, they have all bitten the dust.
(END VIDEO CLIP)
Bob Nardelli served as Chrysler CEO, mergers are necessary he said and the government`s crackdown is hurting.
(BEGIN VIDEO CLIP)
BOB NARDELLI, FORMER CEO, CHRYSLER: The level of uncertainty in the C-Suite has never been as high as it is today. The level of complexity that we have
to deal with, geo-political, you look at taxes, you look at what`s happening in the M&A market. The administration has shut down $400 billion
of potential deals. Today corporations must do M&A to get the top-line growth. They`re getting earnings, they`re driving productivity but to get
growth they`re looking for synergies of productivity, Richard.
(END VIDEO CLIP)
QUEST: That top line growth that Bob Nardelli spoke of and yet we have these deals falling apart. Paul La Monica is with me. Good to see you as
always.
PAUL LA MONICA, CNN MONEY CORRESPONDENT: Good to see you. Thank you.
QUEST: Looking at those various deals and how they`ve fallen apart, there`s no common theme as such. Some are anti-trust, some are regulatory. Some
just you know collapse on inversions and those things. But what do you see as a common theme?
(BEGIN VIDEO CLIP)
LA MONICA: I think that the administration clearly is concerned about two companies just having too much of a stake in a particular market.
Obviously, as you point out, not all those deals shot down for the same reasons and then some other deals have come through and Time Warner Cable,
for example, not going to be sold to NBC Universal, you have Time Warner Cable actually is going to merge with Charter, a smaller cable company and
that deal is going through.
(END VIDEO CLIP)
QUEST: So this idea that Nardelli talks about, that somehow the government or at least the Obama administration, the DOJ, this administration is anti-
merger, do you buy that?
LA MONICA: I think that may be a little harsh because it`s something that governments around the world I think are taking a closer look at mergers.
Because this deal, you know, Halliburton and Baker Hughes, even if the Obama administration gave it a green light, it was going to face a very
tough review abroad as well.
[16:15:10]
QUEST: But you see the thing about these deals is, I mean to my way of looking at it, particularly the Halliburton deal, the Comcast deal, those
that have failed, not on the inversion grounds, but on anti-trust, that is standard settled law. There`s nothing original about you`re a dominant
position and it`s bad for you to have that much market power.
LA MONICA: It`s pretty cut and dry. I don`t know there`s a political agenda here, it`s pretty easy to determine what a company`s market share is and
add it to the company`s market share they`re acquiring. Obviously what` is now convoluted in this world we live in is what exactly is the market,
what`s the definable market? Some people will have some issue there. But even with the oil services business it`s not really that difficult to
figure out what the market share for those two companies would have been.
QUEST: The Dow goes up 100 points today. For no particular --
LA MONICA: It was a quiet day despite the rally. We didn`t have a lot of news.
(BEGIN VIDEO CLIP)
LA MONICA: Apple stock actually though did not participate. That`s a company now that`s been down eight days in a row so I think a lot of
unhappy investors in that particular stock.
(END VIDEO CLIP)
QUEST: Somebody, I guarantee you, guarantee you claim buying opportunity in the next week. Good to see you, Paul.
LA MONICA: Thank you.
QUEST: Our newsletter, which of course Paul is also heavily involved in, the "Quest Means Business" newsletter, it has my views on the profitable
moment and my views today all about gold, and the rest of the CNN money team. You can sign for out it, cnnmoney.com/quest to subscribe. And my view
on gold can be summed up in two words; useless investment. And upon those words, the rest of you will all chime in.
Now, you`re going to go Cuba and you`re going to go on a cruise and now you can go on a U.S. Cruise ship.
(BEGIN VIDEO CLIP)
QUEST: Yes, there it is arriving in Havana. The first U.S. cruise ship for decades finally makes its appearance.
(END VIDEO CLIP)
(COMMERCIAL BREAK)
(BEGIN VIDEO CLIP)
QUEST: The Carnival Ship, Adonia, became the first U.S. cruise ship to visit Cuba in nearly 40 years on Monday. From Miami to Havana, it`s about
360 kilometers. Look at the way the map shows exactly how it goes. It`s just about 90-odd miles at the closest point on the Florida straits. That`s
about 360 kilometers. But it`s a gap that hasn`t been bridged in decades.
So the Adonia set out from Florida on Sunday. It had 700 passengers on board. It docked in Havana a few hours ago. Now the route it`s going to
take, it`s going to go down to (inaudible), then it will go down to Santiago de Cuba, and anybody who`s been to Cuba will know that this is a
very large island with huge potential and masses amount of unspoiled areas.
[16:20:13]
Carnival`s chief executive said this trip is more than just an ordinary every day run of the mill cruise.
ARNOLD DONALD, CEO CARNIVAL CORPORATION: To be a part of truly making history and preparing for an even more positive future for everyone is one
of the greatest honors any company can have. So to be a part of being the first people to be able to sail from the U.S. to Cuba and back, including
those who were born in Cuba, is a tremendous privilege and honor.
(END VIDEO CLIP)
QUEST: Patrick Oppmann joins me live from Havana. I mean it is a - it is a historic moment and whilst we can enjoy the Adonia`s arrival, it will be
followed by many before long.
PATRICK OPPMANN, CNN CORRESPONDENT: Richard, you know there was fierce competition to be the first U.S. cruise line to pull off the feat that
Carnival did today, to have the images of their cruise ship coming in to Havana this morning.
(BEGIN VIDEO CLIP)
OPPMAN: It was a picture perfect day and it was not smooth sailing all the way for Carnival over these last few months as they`ve been negotiating
with the U.S. and the Cuban government. They had to endure a public relations disaster when it came out that Cuban born Americans, anyone who
was born in Cuba was not - at least initially allowed to book passage. Carnival had to petition the Cuban government to get rid of this decades-
old ridiculous restriction that prohibited Cubans from entering their own country on a cruise ship.
Of course that goes back to the very old boat lift crisis when the Castro government said that Cubans could not leave or enter the country on a boat.
That was overturned and so today when the ship arrived in port, it did have Cuban-Americans on board. We saw Cubans here greeting both Americans and
Cuban-Americans with hugs, with cheering, a lot of excitement Richard today, for the ship`s arrival.
QUEST: How many more U.S. ships are you expecting, Patrick?
(END VIDEO CLIP)
QUEST: I mean, I just saw there you know MSC is already there, there are other cruise lines from Europe, from Latin America, that are already going
into Havana. So how fast is this gold rush of Royal Caribbean, Carnival and the others going to be?
OPPMANN: Not fast enough, Richard, because where I am standing the two slips behind me, that is the maximum capacity for the city of Havana. And I
know you have been on Carnival`s largest ship "The Breezes" that holds 3,000 more people than the Adonia, why is that ship not here, because it
can`t fit in the harbor.
(BEGIN VIDEO CLIP)
OPPMANN: That is a real problem is the infrastructure - Cuba`s aging, ancient, outdated infrastructure that needs to be modernized, that effort
is going far, far too slow. But of course today is an important first step in that journey but it`s going to be a very long journey, Richard.
(END VIDEO CLIP)
QUEST: Patrick Oppmann, in the beauty and delight of Havana. Although I always think it`s odd that we always see you with the smelting works and
the oil refinery behind you there with the -- as opposed to - if the camera just turns a bit to the left, the most beautiful side of the harbor. But I
see the ship and that`s the important --
OPPMANN: Next time, next time.
QUEST: The ship is the important thing. Thank you. Patrick Oppmann who`s in Havana for us. Tomorrow night`s program I`ll be joined live with the
Carnival Chief Executive, Arnold Donald, who will be talking about his company`s future in Cuba. Arnold Donald on "Quest Means Business" 9:00
o`clock London, well usual time because we`re talking together so this time tomorrow. You`ll be talking about it.
If you cross the Caribbean Sea, then you come to a very different economic situation. Perhaps not that different from Cuba at its worst points but
certainly a deteriorating situation in Venezuela, which is struggling for the very basics to keep the lights on. The country`s taken one its most
democratic measures yet to fight a severe energy crisis.
This time last week, it would be nearing 4:00 o`clock in the afternoon in Caracas. Now the time is around 4:20 because the President ordered the
clocks to go forward 30 minutes. Why? To extend daylight at peak consumption time.
Moving the clocks just shows the desperate measures, for instance, a two- day work week for government workers. Rolling blackouts, all designed to save energy. The government says a drought is to blame for the energy
crisis. The critics say the government with corruption and failure to diversify has been the main reason.
CNN`s Paula Newton is in Caracas for us tonight.
(BEGIN VIDEO CLIP)
PAULA NEWTON, CNN CORRESPONDENT: Even in the driving rain, Venezuelans started their day in search of food expecting to see the usual grim queues
that form at government stores.
[16:25:06]
NEWTON: Not today. The only stores with affordable food are shut. Closed for the National Workers` Holiday the sign explains. It says sorry and
thank you. People walked away empty handed but full of dread wondering where the next meal might come from. I asked Julian Perez what he needs.
JULIAN PEREZ, CARACAS RESIDENT: As translated: All the basics. I have nothing at home. Sometimes I go hungry. Who can say that we the people
aren`t hungry right now?
NEWTON: And here`s the thing. These people aren`t allowed to come back tomorrow. Food is rationed here. Doled out according to the last number on
your government I.D.
(Carlos Chidinos) explains his turn is today. His number is 5. Cinco? Cinco. So he`s saying that just today and Wednesday can he buy things and
because it`s closed today, he`s out of luck.
So, too, (inaudible) with two children and one on the way, she is raising her kids with no food in her cupboards and barely any in the fridge.
Venezuela is sitting on the world`s largest proven oil reserves but it can`t stop the nation`s refrigerators. This is all I have, she tells me, as
I ask about milk. When I find it, she says, they have milk. And even at 6 months pregnant, sometimes with a child on each hand, she lines up for as
many as 18 hours to find anything to eat.
(Janet Debolivar) shows us all she has, too. She says it took her three weeks of queuing to stock this much, a shop that would have normally taken
an hour. This is not the worst of it for this family. Janet introduces us to her daughter (Yasday) who explains the country is out of medicine, too.
And there`s no line you can wait in for that.
(YASDAY BOLVAR, CARACAS RESIDENT): As translated: Cancer waits for no one. I`m worried about my own health and health of so many others going through
this right now.
NEWTON: Yasday is holding unfilled prescriptions for chemo. And she says no doctor, no hospital can tell her when she`ll get treatment.
BOLVAR: (As translated) It pains me to see Venezuela in the state it`s in right now. But what really makes my heart ache is the thought of not being
here for my daughter tomorrow.
NEWTON: Three generations the Bolvar`s are counting on things to change in Venezuela. But like so many on this day, they cling to patience, hope and
very little else.
(END VIDEO CLIP)
QUEST: Powerful reporting from Paula Newton. Paula, we were hoping to talk to you live in vision but I think from where you are -- you may have --
your live shot position may have just been subjected to a blackout.
NEWTON: Yes. Welcome to Venezuela. And in fact, Richard, this is how bad it is in this country. We`re in Caracas, this isn`t really supposed to
suffering from rolling blackouts but it does happen here.
(BEGIN VIDEO CLIP)
NEWTON: It is not scheduled and this is what people are dealing with at the moment. And as you saw in my report there, Richard, we wish we could say
the situation with medicine is isolated cases. The fact of the matter it is not. This country is rapidly running out of not just essential medicines
but also basic food. They import of what they consume here and because they`re almost out of hard currency only 12 billion left apparently and all
of that involves reserves, this country is -- and the people are really suffering. Richard?
QUEST: Paula, we`ll be talking to you over the next few days and as we`d do that I`d like you to bear - to answer over the next couple of days think
about really how this plays out in the next few months if not few years.
(END VIDEO CLIP)
QUEST: Paula Newton on the line there in the middle of a blackout in Caracas bringing us that strong report on the current situation.
The political jabs continue to fly between the U.S. presidential candidates. It`s all ahead of the primary battle in Indiana. That takes
place tomorrow.
(BEGIN VIDEO CLIP)
QUEST: A new CNN poll suggests the American people have already made up their minds who`s going to be the nominees. Not surprisingly, Trump and
Clinton, they are. We`ll talk about it after the break. "Quest Means Business." good evening.
(END VIDEO CLIP)
[16:30:00] (COMMERCIAL BREAK)
RICHARD QUEST, CNN ANCHOR: I`m Richard Quest. There`s more QUEST MEANS BUSINESS in just a moment. When chief executive of Starbucks said he had
aggressive plans in Africa. Republican voters say time for Ted Cruz to get out of the race for the White House. A new CNN poll numbers have been
released. We`ll have them for you after the news headlines because before any of that, this iMs CNN and on this network the news always comes first.
U.S. Secretary of State, John Kerry, says all sides are moving closer to preventing Syria`s partial ceasefire from collapsing. U.S. Secretary of
State is meeting with other diplomats in Geneva and says continuing violence in the city of Aleppo is particularly disturbing.
Kenneth Bae has told CNN, he`s grateful in his first interview since he was released from North Korea in 2014. Mr. Bae spent more time in prison in
North Korea than any US citizen since the Korean War. And that Bae said the faith helped him endure the intense physical and mental abuse to which
he was subjected.
(BEGIN VIDEO CLIP)
KENNETH BAE, FORMER NORTH KOREAN PRISIONER: Along the way that I found myself with adjusting to life in North Korean prison. Just depending upon
God and just solely pretty much living day-to-day and just live one day at a time.
CHRIS CUOMO, CNN ANCHOR: What did they tell you, you`re not going home? You`re going to be here forever? What would they say to you in the prison?
BAE: One prosecutor assigned to my case for the last year of my imprisonment. He came to me almost every week and say, "No one will
remember you. You are forgotten by people. Your governments. You are not going home any time soon. You will be here 15 years. You will be 60
before you go home."
CUOMO: What would that do to your head?
BAE: Obviously, very difficult to take it in. but it was still holding on to the promise that it was from what I was praying and from god that he
will be my rescuer and U.S. government will do everything possible that bring me home. so I was holding on to the promise.
(END VIDEO CLIP)
QUEST: Donald Trump says China in his words is raping the United States in terms of trade. First time the Republican front-runner has used such
strong language in criticizing china. New CNN poll shows almost all Republican voters expect Mr. Trump to win the party`s nomination for
president. We`ll talk about the poll numbers after this news bulletin.
A court in Minnesota has appointed a special administrator to manage the estate of the music legend Prince. The singer who died last month does not
appear to have left a will. The source with knowledge of the negotiations said the first talks between his siblings ended in shouting.
An Australian computer scientist is now claiming to be the creator of the digital currency bitcoin. Craig Right, published what he says is technical
proof to back up the claim. Bitcoin was created in 2009. At least a dozen people have been named as the creator since then.
The match between Spurs and Chelsea at Stamford Bridge, it`s in the 76th minute and the Spurs currently leading Chelsea by two goals to one. These
are live pictures of Leicester City fans. Now, you can obviously you can almost feel the tension. They need to see a Chelsea recovery if they want
their team to secure the first-ever premier league championship tonight. Basically when we first talked of this at the top of the program, Spurs was
leading 2-0. Chelsea pulled back by one goal and -- oh, another missed opportunity there. Remember, a draw for Spurs-Chelsea gives Leicester the
premier league. A win for Spurs pushes everything forward to next week. 75th minute, so15 more minutes to go give or take.
[16:35:00] We`ll let you know, and will watch those people when the results come in.
Less than 24-hours, voters in Indiana will turn out in their state`s primary and a new CNN poll suggests many Americans believe it`s a mere
formality. Fresh numbers released in the last hour show that most U.S. voters think is season is already over and the general election candidates
are set. More than 8 of 10 registered voters believe Trump is the Republican nominee and roughly same proportions say that Hillary Clinton
will be the Democratic nominee come November. CNN`s Political Director, David Chalian, joins me from Washington. David, I take this poll with
respect and I say to you, it`s stating the bleeding obvious that most people -- most people have believed for some time.
DAVID CHALIAN, CNN POLITICAL DIRECTOR: I don`t know, Richard, if most people have believed for some time in the Republican party that Trump would
eventually be the nominee. I certainly think it`s true on the Democratic side. But it`s even more dramatic among Republicans our poll shows 91
percent of Republicans believe he`s going to be the nominee, so you are right. This does -- we have been talking now for a couple of weeks of a
likely Trump-Clinton matchup. This is clearly what the American people expect.
QUEST: Now, what justification -- let`s take the Democratic side first. I see Bernie Sanders today saying he believes in a contested convention.
What legitimacy does he have to continue this call when Hillary Clinton -- you know, I`m not taking sides here. The mathematics show she`s going to
do it.
CHALIAN: Right. So what Bernie Sanders did just yesterday was give this big speech at the National Press Club here in Washington, D.C. trying to
argue to the so-called super delegates, you know, within the Democratic system, these are the free agents. They can support anyone they want
irrespective of primary or caucus results and he started pleading with them since so many of them have publicly endorsed Hillary Clinton, and are
counted in her delegate total, to think about coming his way.
The problem is he`s without a real argument because she`s also well ahead of him in the pledge delegate battle. The delegates allocated based on
primary and caucus results. And now he`s pleading with these party insiders, the candidate who is the ultimate outsider has taken outside, a
whole new definition running in the Democratic party. And he is pleading with the most insider-y insiders of the party asking them to give up on
Hillary Clinton and come his way. It`s a very tough argument to make.
QUEST: On the Donald Trump side, Ted Cruz at some point, I mean, does he have to bow to the inevitable? I haven`t got the exact delegate count
here, but it does look as if there`s a strong possibility that Donald Trump will get enough delegates to get the nomination on the first ballot.
CHALIAN: You`re right. That is sort of where the delegate count is and looks like. Here`s the reality. Donald Trump is not going to be able to
cross that number, 1,237 delegates needed to win on that first ballot until the final results are in on June 7th with the California primary. Which is
a huge treasure trove of delegates. So Ted Cruz, though he may take a beating in Indiana, nobody will have the magic number that 1,237 until June
7th. So I think Ted Cruz will see a reason to move on just in case Trump implodes.
QUEST: But -- right. Help our viewers to understand. If that is the case, California, which is traditionally in many ways more liberal to the
left, although it has its conservative and north southern sections, surely California would be more likely to go towards Trump anyway on that basis or
what am I missing?
QUEST: No. You are certainly right. California looks to be fertile ground for Donald Trump. I don`t want to get too in the weeds for you
viewers, but they award congressional district by congressional district. So there are pockets where Ted Cruz might be able to go and pick up
delegates. But, no, no, don`t get me wrong. You are right about the reality of the situation. Donald Trump is on a trajectory. He needs to
win fewer delegates than he`s been winning thus far and he can still get to 1,237. He is very on track to do it. I`m just suggesting in our poll 52
percent of Republicans say it`s time for Ted Cruz to get out of the race. Ted Cruz may feel that he shouldn`t do that until Trump secures the
nomination.
QUEST: On a personal note, David, the mere thought of a Donald Trump versus Hillary Clinton general election must have you salivating your
chops.
[16:40:00] CHALIAN: It`s true, Richard. I think it`s going to be an incredible story to cover. It is amazing, though, they`re widely unliked.
Most polls show these two candidates have higher unfavorable than any matchup we`ve seen in modern times. So prepare yourself for a pretty ugly
campaign battle. I`m not sure I`m salivating though as much as the headline writers at the New York tabloids. Because these are two New
Yorkers and they are going to love this race.
QUEST: We`ll be with you every step of the way, David. Lovely to have you on the program. Thank you very much.
CHALIAN: Thanks, Richard.
QUEST: The other battle that`s happening at the moment this hour, no whoa, whoa. While I`ve been talking, well, while I`ve been talking, I`m just
told -- let`s have a listen to the noise. So there you have the celebrations because Chelsea just scored the second goal which takes Spurs
2, Chelsea 2. There`s the Leicester fans at a pub in England and the point about it is that -- that`s Christina Macfarlane our correspondent there, if
she gets out of the way we`ll see what the fans are doing.
But the point about it is, if everything continues exactly as it`s going at the moment, for the next 10, 15 minutes or so, maybe even less, maybe 8
minutes, if Tom tells me how long there is still left to play. Then Leicester have won the Premier League. And we`ll follow that closely. So
we started at the top of the hour with Spurs 2-1 ahead. Chelsea pulled back with one goal. Now they`ve scored a second goal. Chelsea draw level.
Remember, a draw in this match at Stamford Bridge gives Leicester the Premier League. They needed a win. Spurs needed a win. We`ll talk more
about that. Contain yourself as we continue on QUEST MEANS BUSINESS.
(COMMERCIAL BREAK)
QUEST: All right. Christina Macfarlane, Chelsea has mounted a late comeback. We saw the moment of the goal from Chelsea. You`re in
Leicester. What`s the mood?
CHRISTINA MACFARLANE, CNN WORLD SPORTS: The mood right now, Richard, is euphoric. Undoubtedly. We are about five minutes away from Leicester City
winning the Premier League. And that`s because in the last few minutes Chelsea have come back here from two goals down to level the score. And
behind me, the room is going absolutely crazy. If things stay as they are, as of this moment, then there will be euphoric scenes on the streets of
Leicester here tonight. I cannot underestimate how just how excited these fans are here. They`re on the brink of history, and the players, too, are
on the brink of greatness. As I speak, there are some pot shots going on the pitch. That`s how testy and how feisty the match has been here
tonight. With so much on the line. Remember, Tottenham also trying to stay in the title race.
[16:45:00] But as I say, Richard, as things stand right now, Leicester are in it to win it and the minutes` countdown until they are champions of the
English Premier League.
QUEST: Now, Christina, I haven`t got a clock in front of me. But to the end of the second half is about five minutes. Is your five minutes
including any extra time, injury time? Do we know how many more minutes will be added roughly?
MACFARLANE: Well, we think probably about two or three minutes added, Richard. I`d say about six minutes in total if we`re counting. But you
can hear behind me the crowd are beginning to chant, we`re going to win the league, we`re going to win the league. Everyone here has been an honorary
Chelsea supporter tonight I might add. Every time Chelsea had touched the ball they`ve been in uproar here and it`s been a very strange but
interesting evening. I cannot underestimate what a huge achievement this is going to be for the team. This is a team who spent 140 days at the
bottom, the very bottom of the Premier League last season. This year, this season, they spent 132 days at the top. Never has there been a story like
this in football, let alone sport.
QUEST: Stay with me, Christina. With your group there, stay with me. Kellie Morgan is at Stamford Bridge. Don Riddell at the CNN center. Don,
I`m going to need your help for the machinations of what happens and how this moves. Kellie, those two goals have been scored by Chelsea while we
have been on air.
KELLIE MORGAN, CNN REPORTING: Yes. Absolutely, Richard. And the roar from the stadium behind me was deafening and you can hear the Chelsea fans
singing. This is like they had won the title themselves. They desperately wanted to ruin Spurs chance at clinching this title from Leicester City.
So there`s huge celebrations going on behind me. But who would have thought? It looked like Spurs had the bit between the teeth and they were
running with it. They were confident and then what happens they`ll actually have a comeback and clinch it from them and they are now denied a
title it, as I say, we`ve still got a couple of minutes to play. It has to be said, but it looks like it`s over for Spurs.
QUEST: Don Riddell at the CNN Center. Now, Don, not only -- this is fascinating because you have got the team playing that basically is going
to put itself out if it loses. You have got a local derby and the other team do anything to annihilate the first team. And you`ve got a team 100
miles away upon which everything rests.
DON RIDDELL, CNN WORLD SPORTS: Yes, it`s great when it comes down to it like this, Richard. Still two games of the season after this one, but it
can all be decided right now in the next couple of minutes as Christina and Kelly have been saying. It is just fascinating. The dynamic between
Tottenham and Chelsea is absolutely fascinating. Chelsea, of course, are the defending Premier League Champions. They have had an absolutely
miserable campaign. But here they are. Right at the death. Essentially playing kingmaker. Chelsea don`t like Tottenham. Fans don`t like
Tottenham and Tottenham fans they are great London rivals. And you knew before the game, in fact several Chelsea players even said that if anybody
was going to win the title they didn`t want it to be Spurs, and they have played very, very hard today. It`s been a very, very feisty encounter and
looks as though Chelsea are going to hand the title to Leicester.
QUEST: Christina Macfarlane, in Leicester, the 90 minutes is up. They`re now into extra injury time. How many minutes? We believe five or six
minutes have been added to the clock, which means you`ve got about another four or five minutes to play. Is that what you`re seeing in Leicester?
MACFARLANE: That`s exactly what I`m saying, Richard. As I speak, we have five minutes and counting left on the clock. Which is quite a bit of extra
added time here and so it`ll be interesting to see if Chelsea can hang on. But it`s been a very much 50-50 game here. And as Don mentioned there,
Chelsea will not want to give in. It`s a grudge match between these two teams, these two London teams. Tottenham have everything on the line. As
I speak to you, Richard, I can see out on the street behind me a flood of police cars who have arrived here in the city center and I can see fans
beginning to spill out on to the streets. We are right in the heart of the city center here and we are going to be following these fans out here from
the pub on to the streets if the inevitable happens in about four minute`s time.
QUEST: All right, so Christina, this is how we play it. We`ll continue talking amongst the three of you for the next three or four minutes.
Christina, you will move out of the way to see the fans go absolutely bananas. Not yet. Stay with me though so you can hear what I`m saying.
Don Riddell, history being made.
[16:50:00] RIDDELL: Oh, and then some. This is absolutely extraordinary, Richard. You know, in the history of the Premier League, only five teams
have ever won it. Blackburn, a long time going. What was really a different era. The four other clubs that won it since are giants of
European soccer, and financial giants, too. The teams that win the Premier League are Manchester United, Manchester City, Chelsea and Arsenal. Teams
like Leicester consider themselves kind of lucky to be in the bottom half of the table. Leicester last season spent most of the year trying to fight
to avoid relegation. And that`s why at the start of this season the bookies made them 5,000-1 to win the title. Those are joke odds. The
number of things that the bookmakers thought more likely than Leicester winning the title were things like Bono becoming the Pope, or Lady Gaga
becoming the next president of the United States. Essentially to win you would have to put on a pound of 5,000-1 and get 5,000 pounds back. So
extraordinary odds. Leicester has denied the odds. And to be honest, Richard, they deserve to be in this position. They have been the best team
this season. They played absolutely fantastically and although Chelsea, perhaps are going to hand them the title. If Leicester do it they will
have absolutely deserved it.
QUEST: The singing is taking place in Leicester. Kellie Morgan is at Stamford Bridge. Kellie, we believe less than a minute or two to go. I`m
going to go back to Christina in Leicester. We are seeing the fans getting ready. OK, Christina, by my reckoning, you have another two minutes or so.
I`m handing it to you.
MACFARLANE: That`s about right, Richard. We have been watching the fans here respond to fans in the stadium at Stamford Bridge. They`ve been
holding up signs saying let`s do it for Claudio Ranieri. Which is quite funny, because of course, Claudio, is a former manager of Chelsea. So
it`ll be extremely fitting if Chelsea were to do the job for their old boss tonight. As you can see in front of me, the fans chanting we`re all going
on the European tour. Which, of course, they`ll be on the champions league tour next season playing against some of the biggest teams in Europe. It
is such a fairytale unfolding before our very eyes here and we have two minutes and counting left on the clock.
QUEST: Kellie Morgan, two minutes before any more damage is done at Stamford Bridge.
MORGAN: Absolutely, well, you know, the fans are leaving. They think this is a done deal. Though interestingly, when`s going to happen in two weeks
is going to see Chelsea and Leicester City play here for the last game. That`s left remaining with them, and that`s going to happen in two weeks.
And it`s already sold out. So there`ll be a little bit of gratitude, no doubt, going on there amongst the fans there, Richard.
QUEST: All right. Very much -- one minute left to play. Kellie, thank you at Stamford Bridge. The fans -- this is one of those moments where you
just really want to enjoy shear unadulterated, unbridled, un -- almost drunken revelry that is going to erupt as the final whistle is blown.
MACFARLANE: There it is. There it is.
QUEST: A very near moment there. Don Riddell is with me. Kellie Morgan is with me. I`m going to keep you all on for one second, because we are
literally seconds away. Oh, I beg your pardon, Don Riddell apparently the Spurs player is being booked. So it looks like it all might last a bit
longer, Don Riddell.
RIDDELL: It`s been a feisty game, Richard. I can tell you what, Leicester fans are going to be celebrating. Chelsea fans are going to enjoy this.
Tottenham and their fans are going to be absolutely miserable in the next couple of minutes. You know who else is miserable? The bookmaking
industry. William Hill, one of the leading bookmakers, tweeted a few moments ago, "Oh dear, there goes GBP 2.2 million. They reckon that
Leicester`s victory costs $22 million. Absolutely nobody saw this coming. Not by a long shot. Not many people are going to have sympathy for the
guys in the bookmaking industry, because usually they`re the ones that win. But they are not going to be winning today by the looks of it. This is
just an absolutely remarkable, historic fairytale achievement by Leicester City. These guys are not supposed to be competing for the Premier League
title but they have played the most amazing season and they`re thoroughly deserve their success.
QUEST: That was my question to you. I mean, because unlike the cup, this, it`s all about -- it`s over. Let`s go to Leicester.
MACFARLANE: That is it! That is it! It is all over! Leicester City are the champions of the Premier League. And you can see what it means to the fans
in front of me. Euphoria breaking out on the streets of Leicester, Richard. They have done the unbelievable. They have completed the
fairytale. Who would have thought that just a year ago they were at the bottom of the Premier League? Listen in. There you can hear them chanting
champions, champions.
[16:55:00] Ole, ole, ole, and of course, they are the underdogs, the greatest underdog story perhaps in the history of sport has happened
tonight courtesy of Chelsea at Stamford Bridge coming back and leveling the score two --
QUEST: Can you grab one?
MACFARLANE: -- disappointment written all over Tottenham.
QUEST: Can you grab a fan? Christina, can you grab a fan for us?
MACFARLANE: Yes, I`ll try.
QUEST: Go on, go and grab a fan. Particularly one of the chaps in the funny hair. Come on and grab a fan. Go and get in there. There we go.
MACFARLANE: Tell me, sir, how are you feeling?
UNIDENTIFIED MALE: I just can`t honestly put it into words. Saying -- I did not ever dream in my lifetime this would happen and it has.
MACFARLANE: How are you going to be celebrating tonight?
UNIDENTIFIED MALE: well, I`ve got a bottle of champagne waiting outside. Just in case. I went to Manchester yesterday just in case and now it`s
actually happened. Unbelievable. Absolutely honestly unbelievable. Fantastic.
MACFARLANE: Pleasure all over everyone`s face here, Richard. And behind me out on the street there are thousands of fans who are gathering. And
this party goes on all night. There`s champagne being thrown. There`s beer being thrown. I have a couple of more fans just here behind me.
QUEST: Yes, going get them.
MACFARLANE: You are already wearing the champions t-shirt. How are you feeling?
UNIDENTIFIED MALE: We came from Italy just for the match so it`s amazing. Really it`s amazing.
UNIDENTIFIED MALE: We are following looser from the beginning of the champion. The Premier League`s own now.
MACFARLANE: Tell me what do you think of Claudio Ranieri? This Italian manager.
UNIDENTIFIED MALE: Wonderful, great.
UNIDENTIFIED MALE: One of the best, Ranieri in Italy.
UNIDENTIFIED MALE: We love him. We love him.
UNIDENTIFIED MALE: Two, two today. Two, two. We win.
QUEST: All right. Christina --
MACFARLANE: Some amazing bets, of course, have been won, Richard. Yes?
QUEST: All right. So let`s pull this together. Let`s pull the strands together. An amazing achievement by Leicester, but as Don Riddell, was
saying earlier, this was well worth it. They`re worthy champions. Would you agree?
MACFARLANE: Absolutely worthy champions, Richard. Let`s just put this in some perspective. This is a team who collectively cost somewhere in the
region of $30 million. Now that`s in the Premier League, where you`re up against the giants of Manchester City, of Chelsea, who are collectively
worth some 300 million. It just puts into perspective what these players have achieved. Jamie Bartley, the star striker of this side only cost $1.5
million. Would you believe? Now the star striker on Chelsea`s pitch today was Diego Costa. He cost $30 million. It is a David and Goliath tale for
the ages, and not only that think we have to head outside because it`s incredibly heated out there.
QUEST: All right. Christina Macfarlane joining us from Leicester. There you see the table, 77 points for Leicester City, 70 for spurs. They can`t
make up those 7 points by the 2 remaining games left in the Premier League. And that`s QUEST MEANS BUSINESS for this Monday evening. The DOW is up.
Leicester`s won the Premier League. We can all go home a little bit happier. Whatever you`re up to in the hours ahead, I hope it`s profitable.
I`ll see you tomorrow.
END
